Victory Capital (NASDAQ:VCTR) Receives New Coverage from Analysts at Barclays

Barclays started coverage on shares of Victory Capital (NASDAQ:VCTR) in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $58.00 price objective on the stock.

Several other research analysts have also weighed in on VCTR. Royal Bank of Canada decreased their price objective on shares of Victory Capital from $56.00 to $55.00 and set an outperform rating for the company in a report on Tuesday, August 13th. Bank of America raised their price target on shares of Victory Capital from $58.00 to $59.00 and gave the stock a buy rating in a research report on Monday, August 12th. The Goldman Sachs Group raised their price target on shares of Victory Capital from $53.00 to $59.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. BMO Capital Markets restated an outperform rating and issued a $57.00 price target (up from $55.00) on shares of Victory Capital in a research report on Monday, May 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Victory Capital from $45.00 to $49.00 and gave the stock a neutral rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $53.67.

Victory Capital Price Performance

Shares of VCTR stock opened at $54.66 on Tuesday. The firm has a market cap of $3.54 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.58 and a beta of 0.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. Victory Capital has a 1-year low of $28.66 and a 1-year high of $55.16. The firm has a fifty day moving average of $50.19 and a two-hundred day moving average of $47.03.

Victory Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $0.41 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $1.64 annualized dividend and a dividend yield of 3.00%. This is a boost from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s payout ratio is currently 50.31%.

Hedge Funds Weigh In On Victory Capital

Several hedge funds have recently made changes to their positions in VCTR. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Victory Capital by 24.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,856 shares of the company’s stock worth $305,000 after purchasing an additional 1,756 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Victory Capital by 1.3% in the 4th quarter. Federated Hermes Inc. now owns 28,896 shares of the company’s stock worth $995,000 after purchasing an additional 383 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Victory Capital by 10.6% in the 4th quarter. New York State Common Retirement Fund now owns 100,441 shares of the company’s stock worth $3,459,000 after purchasing an additional 9,661 shares during the last quarter. Rainwater Charitable Foundation purchased a new position in shares of Victory Capital in the fourth quarter worth approximately $4,702,000. Finally, Swiss National Bank increased its position in shares of Victory Capital by 10.0% in the fourth quarter. Swiss National Bank now owns 64,800 shares of the company’s stock worth $2,232,000 after acquiring an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.